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Time of India
37 minutes ago
- Time of India
Instant answers: India's fintechs harness GenAI
Bengaluru: Generative AI is rewriting the rules of finance, and nowhere is the upheaval sharper than in India's booming fintech scene. Brokerage chatbots that speak four languages, payment assistants that fix errors in seconds, and back-office engines that close two-hundred-million credit accounts before dawn are steadily stripping cost and friction out of money management—and propelling a new breed of startups onto the world stage. Tired of too many ads? go ad free now That momentum explains why Tiffany Bloomquist, who runs the startups business for Amazon Web Services (AWS) across Asia-Pacific and Japan, now touches down in India almost every quarter. Meeting founders in Bengaluru during a recent visit, she said GenAI has quickly become the fastest route to improving customer experience and urged entrepreneurs to weave the technology into every layer of their products. Three local tail-winds, she said, are fuelling the surge. F irst, the govet's India Stack gives developers ready-made digital rails for identity, payments and data-sharing. Second, Nasscom counts more than 240 Indian GenAI startups today, up from just 66 early last year. Third, AWS's ten-week GenAI Accelerator—supported by a $230 million fund—offers up to $1 million in credits, matches mentors and organises brisk "speed connect" meetings with big corporate buyers. Seven Indian firms have already won places on the current cohort. What, then, are those firms actually doing? Stock-broking platform Dhan, serving roughly three million traders, was drowning in know-your-customer (KYC) checks. By training a language model on its own policy documents, it now answers a quarter of those queries automatically, halving average wait times and cutting support costs by nearly a third. Tired of too many ads? go ad free now Payment specialist Easebuzz faced merchants who repeatedly rang in with integration snags. Its new assistant, ERA, reads each message, compares it with technical manuals and suggests step-by-step fixes in real time. Redundant tickets have dropped by 80% and responses that once took 20 minutes arrive in seconds. At banking tech company Zeta, the numbers are bigger still. Every night the firm must post millions of transactions that merchants queue during the day. A cloud-based processing engine—reinforced with AI routines that predict the heaviest bursts—now reconciles 208 million credit accounts in about 40 minutes, a feat that would once have demanded a nine-figure hardware budget. Debt-marketplace Yubi uses large-language models to refresh credit scores. Feeding the software a lake of public filings and bank statements lets risk models update in hours rather than days, trimming a third off the time borrowers wait for funding offers. The common recipe is simple: distil company knowledge into an AI model, surface it through a chat-style interface and run it on servers that expand only when the rush arrives. "We used to automate servers," Bloomquist said. "Now we're automating compliance, advice, and trust. Founders who seize that shift will shape the next decade of finance."
Business Standard
an hour ago
- Business Standard
Why Learning Foreign Languages Is the New Career Power Move for Indian Youth
India PR Distribution New Delhi [India], August 1: In today's globalized world, the ability to communicate in more than one language is not just a skill--it's a career accelerator. As India's young workforce continues to compete on a global stage, learning foreign languages such as German, French, Japanese, and Spanish has become one of the smartest moves for career growth, overseas education, and international job opportunities. Foreign Languages Open Global Career Doors From multinational corporations to international universities, the demand for multilingual professionals is on the rise. Countries like Germany, Japan, and France are actively welcoming Indian students and skilled professionals. In many cases, proficiency in the native language is either a requirement or a strong advantage. For example, German companies operating in India often prefer candidates who can speak and understand German. Similarly, Japan offers a large number of technical internships and long-term employment options for Indians with Japanese language skills. The ability to communicate in the local language not only improves the quality of professional interactions but also makes integration into society smoother. Boosting Employability and Salary Potential Hiring managers consistently place language skills among the top desirable traits in global candidates. Bilingual and multilingual individuals are often offered better job roles and salary packages. In sectors like hospitality, aviation, international business, IT, and translation services, foreign language proficiency is a competitive edge. Students who pursue international education also benefit greatly. Whether applying to German public universities, enrolling in French business schools, or preparing for Japanese corporate internships, language skills strengthen a student's profile. Many institutes are now helping bridge this gap. The Indian Institute of Foreign Languages offers structured programs in German, French, Japanese, Spanish, and English--both online and offline--making it easier for students across India to gain certification and fluency. India's Youth are Catching On More Indian students and professionals are recognizing the value of foreign languages. Enrollments in language certification programs have increased significantly over the past few years, especially among students preparing for study abroad, jobs in Europe or Japan, and global business ventures. With the rise of digital learning, students from cities like Bangalore, Mumbai, Delhi, and even Tier 2 towns can now access high-quality language courses from the comfort of their homes. Institutes offering weekend and evening batches have made it easier for working professionals to learn without disrupting their daily routines. A Lifelong Skill With Endless Benefits Beyond careers, learning a foreign language also improves memory, cognitive flexibility, and cross-cultural understanding. It builds confidence, sharpens communication, and makes international travel more rewarding. In an era where remote jobs, overseas migration, and global networking are common, the ability to speak an additional language is no longer optional--it's essential. Where to Begin? For Indian youth looking to get started, it's important to choose the right course and certification. Most global employers and universities recognize international language tests such as Goethe-Zertifikat (German), JLPT (Japanese), DELF/DALF (French), and DELE (Spanish). Institutions like the Indian Institute of Foreign Languages not only prepare students for these exams but also provide career guidance, flexible timing, and access to native-speaking trainers and online learning tools. Conclusion In a world that's becoming more interconnected every day, foreign language skills are the bridge between Indian talent and global opportunity. Whether your goal is to study in Germany, work in Japan, or run a business with international clients, speaking a second language gives you a powerful head start. For India's young professionals and students, learning a foreign language may be the smartest career move they make this decade. (ADVERTORIAL DISCLAIMER: The above press release has been provided by India PR Distribution. ANI will not be responsible in any way for the content of the same)
Time of India
2 hours ago
- Time of India
26 years after shutting down lotteries, cash-strapped Himachal makes U-turn
KULLU: Cash-strapped Himachal Pradesh is trying its luck with lottery to turn its fortunes. The cabinet has allowed lottery operations, which were shut down in 1999. Burdened with a debt of over Rs 1 lakh crore, it hopes to make a modest Rs 50 crore to Rs 100 crore annually from sale of lottery tickets. The decision to reintroduce lotteries after over a quarter century was taken in a cabinet meeting on July 31. The recommendation came from a cabinet sub-committee set up to give suggestions to boost state revenue. The move seems to be inspired by other states that run lotteries. Neighbouring Punjab earned Rs 235 crore through sale of lottery tickets during the 2024-25 fiscal while the tiny state of Sikkim made Rs 30 crore. Kerala tops the list - the southern state earned a jaw-dropping Rs 13,582 crore last fiscal. Himachal, which is finding it difficult to meet the expenses of rebuilding the damage caused by this year's landslides and flash floods, hopes to mop up some much-needed funds this way. "Many states earn through lotteries. You will be surprised to know how much Kerala earns. Himachal Pradesh govt has decided to restart the lottery system after a recommendation was made by a cabinet sub-committee," said industries minister Harshwardhan Chauhan. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Switch to UnionBank Rewards Card UnionBank Credit Card Apply Now Undo by Taboola by Taboola "We will follow the tender process to run lotteries in Himachal Pradesh, just as other states do." The decision to reintroduce lotteries in Himachal has come at a time when the state's debt stands at a back-breaking Rs 1,04,729 crore, and the per capita debt has reached Rs 1.17 lakh, the second highest after Arunachal Pradesh. To make the financial situation even worse, the revenue deficit grant, financial assistance from the Centre, has come down from Rs 6,258 crore in 2024 to Rs 3,257 crore in 2025, and GST compensation has been stopped by the Union govt. Govt is expected to introduce the bill on lotteries in the monsoon session of assembly, beginning Aug banned lotteries, both state-run and from outside, in 1999 during Prem Kumar Dhumal's tenure as chief minister. Lotteries are legal in 13 states - Punjab, Kerala, Madhya Pradesh, Maharashtra, Goa, Bengal, Mizoram, Nagaland, Sikkim, Manipur, Arunachal Pradesh, Meghalaya, and Assam.
